We use a new approach to assess long-term fiscal developments. By analyzing the timevarying behaviour of the two components of government spending and revenue – responsiveness and persistence – we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate...

This study uses the Bootstrap methodology to measure the productivity changes of US airports with a Malmquist index, from the 2002-2007 adopting the Gillen and Lall (1997, 2001) approach. The results are mixed for the sample of airports analyzed. The study relates the results to the current and...

In the last twenty years Portugal struggled to keep public finances under control, notably in containing primary spending. We use a new quarterly dataset covering 1979:1-2007:4, and estimate a Bayesian Structural Autoregression model to analyze the macroeconomic effects of fiscal policy. The...

Given the increased internationalisation of the Portuguese economy through outward Foreign Direct Investment (FDI), particularly on the Portuguese-speaking countries, our main objective is to discuss the empirical relationship between this outward FDI and trade. We use panel data analysis within...

Although a major contribution to trade theory, Krugman’s 1979 demonstration that ‘trade can arise and lead to mutual gains even when countries are similar’ fails to make explicit the economic mechanisms that lead up to this result. The current paper attempts to fill this gap by addressing...

We assess the fiscal behaviour in the European Union countries for the period 1990- 2005 via the responsiveness of budget balances to several determinants. The results show that the existence of effective fiscal rules, the degree of public spending decentralization, and the electoral cycle can...

The creation of credit markets in poor countries is a crucial factor for their development. If well put into practice, people would be able to improve their quality of life. With the suitable support they will become educated and that will allow them to enlarge their business, to think by...

This paper uses polled panel OLS robust estimations with quarterly data for 26 EU countries from the 1980s until 2006, comparing the results of three panels of countries during different time periods. The results obtained confirm the high degree of integration among the EU financial systems and...

There is scant evidence on the determinant factors of structural similarity between geographical spaces; moreover, it has been produced considering only the national level. The present study provides evidence on this topic at the regional level, based on the analysis of 275 Portuguese counties....

Purpose - The purpose of this paper is to quantify the impact of the evolution of consumption patterns associated with ageing on the relative importance of industries in Portugal. Design/Methodology/Approach - This paper uses data from the Family Spending Survey to disaggregate the Household...